Acquisition of NuVista Energy - Ovintiv's acquisition of NuVista Energy is expected to generate approximately 10% Free Cash Flow per share accretion[9, 24] - The acquisition enhances Montney scale with approximately 25 Mbbls/d of oil production and approximately 930 net 10k locations for approximately $13 million per location[9] - Ovintiv anticipates approximately $100 million in expected durable annual synergies from the NuVista acquisition[24, 41] - The acquisition is valued at approximately $27 billion enterprise value[28, 78] Q3 2025 Results and Updated Guidance - Ovintiv's 3Q25 oil and condensate production reached 212 Mbbls/d, surpassing the guidance of 202-208 Mbbls/d[11] - 3Q25 Free Cash Flow was $351 million and Net Debt reduction in 3Q25 was $126 million[13] - The company updated its FY25E oil and condensate production guidance to 208-210 Mbbls/d[18] - Ovintiv anticipates approximately a 50% decrease in 2025 cash taxes, representing approximately $75 million, due to internal restructuring[20] Permian Basin Expansion - Ovintiv added approximately 170 net 10k locations in the Permian YTD October 2025 for approximately $15 million per location[9, 62]

FY25 Fourth Quarter Earnings Call November 5, 2025 Adient – PUBLIC Important Information Adient has made statements in this document that are forward-looking and, therefore, are subject to risks and uncertainties. All statements in this document other than statements of historical fact are statements that are, or could be, deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In this document, statements regarding Adient's expectations for its deleve ...

Financial Data and Key Metrics Changes - In Q3, the company produced 103,000 gold equivalent ounces at an all-in sustaining cost (AISC) of $2,359 per ounce, with a full-year production target of 410,000-480,000 gold equivalent ounces, expected to finish in the lower half of that range [8][9] - The net income attributable to shareholders was $65.4 million, or $0.31 per diluted share, while adjusted net income was $68.4 million, or $0.32 per diluted share [9][10] - Free cash flow before changes in working capital was $72 million, indicating strong margins despite ongoing investments [10] Business Line Data and Key Metrics Changes - Marigold produced 36,000 ounces of gold at an AISC of $1,840 per ounce, with expectations for a strong Q4 [11] - CC&V produced 30,000 ounces of gold at an AISC of $1,756 per ounce, generating nearly $115 million in asset-level free cash flow since acquisition [13] - Seabee faced challenges with production of 9,000 ounces at an AISC of $3,003 per ounce, attributed to lower-than-expected grades [14] Market Data and Key Metrics Changes - The average realized gold price was above $3,500 per ounce for the quarter [9] - Puna produced 2.4 million ounces of silver at an AISC of $1,354 per ounce, continuing its solid performance [15] Company Strategy and Development Direction - The company is focused on advancing organic development projects, including Hod Maden, Buffalo Valley, and others, with a strong emphasis on growth initiatives [5][6] - The upcoming technical reports for Cripple Creek and Victor, as well as Hod Maden, are expected to showcase the potential and upside of these assets [17] - The company is committed to a restart at Çöpler and is in close communication with government authorities for approvals [7][28] Management's Comments on Operating Environment and Future Outlook - Management expects a stronger Q4, primarily driven by Marigold and CC&V, despite challenges faced in Q3 [20] - The company is optimistic about the potential of Hod Maden, viewing it as one of the most compelling undeveloped copper-gold projects in the sector [5][16] - There is a noted increase in public support for the reopening of Çöpler, which may aid in regulatory discussions [28] Other Important Information - The company maintains a strong financial position with $409 million in cash and total liquidity exceeding $900 million [8][9] - The technical report for Hod Maden is expected to form the basis for a construction decision in the coming months [5][16] Q&A Session Summary Question: Expectations for Q4 and production spillover from Marigold - Management confirmed that Q4 strength is expected from Marigold and discussed handling fines encountered at Red Dot [20][21] Question: Clarification on lower grades at Seabee - Management explained that lower grades were due to increased material from the gap hanging wall, which came in at lower grades than expected [24] Question: Update on Çöpler and community support - Management detailed ongoing discussions with regulators and noted increased public support for reopening, which may help but is not the primary driver for regulatory approval [28] Question: Guidance for Hod Maden and potential carryover into 2026 - Management indicated that spending at Hod Maden is on track and that they expect to be closer to the midpoint of the guidance range [35][36] Question: Connection between Hod Maden and Çöpler decisions - Management clarified that the decisions regarding Hod Maden and Çöpler are treated as mutually exclusive, with no dependency between the two [42] Question: Strategy for growth and M&A - Management reiterated a consistent strategy focused on organic growth and selective M&A opportunities that fit within established criteria [44][45]

Core Insights - Wesdome Gold Mines Ltd. reported strong financial results for Q3 2025, achieving multiple operating and financial records, including a 34% free cash flow margin, driven by favorable gold prices and operational improvements [3][4][48]. Financial Highlights - Revenues for Q3 2025 reached CAD 230.3 million, a 57% increase from CAD 146.9 million in Q3 2024 [8]. - Gross profit surged by 112% year-over-year to CAD 149.0 million, with operating cash margin growing by 78% to CAD 168.4 million [7][8]. - Net income more than doubled to CAD 86.9 million, or CAD 0.58 earnings per share, compared to CAD 39.0 million in Q3 2024 [8]. - Record free cash flow of CAD 79.0 million was reported, equating to CAD 0.52 per share [8]. - As of September 30, 2025, liquidity stood at CAD 615.0 million, significantly up from CAD 273.1 million at the end of 2024 [7][8]. Operational Performance - Consolidated gold production for Q3 2025 was 50,465 ounces, a 12% increase compared to Q3 2024, marking a quarterly record for the company [7][8]. - The average realized price of gold sold in Q3 2025 was USD 3,523 per ounce, contributing to expanded margins [7][8]. - Eagle River mine produced 34,296 ounces of gold in Q3 2025, a 45% increase from 23,688 ounces in Q3 2024, driven by a 17% increase in average grade [12][16]. - Kiena mine produced 16,169 ounces in Q3 2025, a 25% decrease from 21,421 ounces in Q3 2024, primarily due to a planned reduction in grade [32][36]. Cost Metrics - Cost of sales per ounce of gold sold increased by 6% to USD 947, while all-in sustaining costs (AISC) per ounce rose by 1% to USD 1,419 [7][8]. - AISC per ounce for Eagle River decreased by 29% to USD 1,203 in Q3 2025, while Kiena's AISC increased by 71% to USD 1,899 [19][39]. Production Guidance - The company expects to meet the mid to upper range of its revised consolidated production guidance of 177,000 to 193,000 ounces for the year [50][51]. - Kiena's full-year production guidance has been adjusted to between 72,000 and 78,000 ounces due to operational challenges [50][51]. Exploration and Development - Drilling continues to expand the 6 Central Zone, confirming mineralization continuity [20][21]. - The exploration ramp development at Kiena is forecasted for breakthrough in Q1 2026, with initial stope production expected shortly thereafter [41][42].

Accessibility StatementSkip Navigation HOUSTON, Nov. 4, 2025 /PRNewswire/ -- Today Western Midstream Partners, LP (NYSE: WES) ("WES" or the "Partnership") announced third-quarter financial and operating results. Net income (loss) attributable to limited partners for the third quarter of 2025 totaled $331.7 million, or $0.87 per common unit (diluted), with third-quarter 2025 Adjusted EBITDA totaling $633.8 million. Third-quarter 2025 Cash flows provided by operating activities totaled $570.2 million, and thi ...

Core Insights - Inspirato Incorporated reported a significant year-over-year improvement in adjusted EBITDA of 97%, reflecting operational efficiencies and a focus on reducing fixed commitments while enhancing guest experience [3][6][34] - The company achieved a year-to-date increase of $15.0 million in cash flow from operating activities and a $13.2 million rise in adjusted EBITDA, indicating a strong foundation for future growth [1][3] - Inspirato is set to launch a new Pass membership in January 2026, aimed at providing greater value and flexibility for members [3][34] Financial Performance - For Q3 2025, Inspirato reported a net loss of $4.5 million and an adjusted EBITDA of negative $0.1 million, marking a $3.3 million improvement year-over-year [6][24] - The gross margin for Q3 2025 was $17.4 million, down 64.7% from $49.4 million in Q3 2024, primarily due to a decline in total revenue [6][10] - Total revenue for Q3 2025 was $55.5 million, a decrease of 19.6% compared to $69.1 million in Q3 2024 [10][24] Operational Metrics - Cash operating expenses decreased by $6.9 million or 26% year-over-year, reflecting ongoing operational improvements [6][10] - The occupancy rate for Q3 2025 was 56%, with average daily rates (ADR) increasing by 20% to $1,742 [6][11] - As of September 30, 2025, the company reported 10,700 active memberships, down from 12,400 in the previous year [12][34] Guidance and Management Changes - Inspirato has reinstated its 2025 guidance, expecting adjusted EBITDA of $2 to $4 million and full-year revenue of $235 to $240 million [7][34] - The company announced the resignation of CFO Michael Arthur, who will assist in the transition until the end of 2025 [4][5]

Financial Data and Key Metrics Changes - Graphic Packaging's sales for Q3 2025 were $2.2 billion, with adjusted EBITDA of $383 million and an adjusted EBITDA margin of 17.5% [5][10] - Adjusted EPS for the quarter was reported at $0.58 [5] - Year-on-year volume was down 2%, but the company outperformed most markets served [10][14] Business Line Data and Key Metrics Changes - The innovation platform contributed approximately $52 million, roughly 2% of sales, helping to outperform challenges in volumetric performance [35] - Food and household products remained steady, while beverage and food service showed weakness [13][18] - Health and beauty, primarily a European business, continued to perform solidly [13] Market Data and Key Metrics Changes - The consumer market has bifurcated, with upper-income consumers spending differently and lower-income consumers cutting back due to rising food prices [9][10] - Grocery volumes have been impacted, with CPG customers timing purchases to manage cash, leading to less predictable order flows [10][14] - The recycled and unbleached packaging markets are in good balance, but there is unusual competitive pressure from bleached packaging producers [10][11] Company Strategy and Development Direction - The Waco facility is a critical investment that enhances supply chain efficiency and reduces waste, expected to provide a competitive advantage for decades [7][8] - The company is transitioning from Vision 2025 to Vision 2030, focusing on free cash flow generation [5][8] - Graphic Packaging aims to leverage its innovation capabilities to open new markets and maintain a strong position in the packaging industry [19][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the Waco facility's ramp-up, expecting it to contribute $80 million to EBITDA in 2026 [37][90] - The company is focused on controlling costs and inventory to protect margins amid a challenging consumer packaging environment [24][25] - Management acknowledged the unpredictability of demand but emphasized the strength of their business model and competitive advantages [28][29] Other Important Information - The company repurchased approximately 6.8 million shares year-to-date, reducing shares outstanding by 2.3% in 2025 [23] - Capital spending is expected to decline significantly to approximately 5% of sales, which will drive cash flow inflection [27][28] Q&A Session Summary Question: Did the end markets track as expected in Q3? - Management clarified that there was no share loss; customer purchasing patterns affected volumetric performance, with innovation helping to outperform challenges [35][36] Question: Confidence in Waco's EBITDA contribution for next year? - Management expressed high confidence in Waco's ramp-up delivering the expected $80 million contribution [37] Question: Opportunities for productivity improvement? - Management highlighted the focus on controlling costs and optimizing operations to enhance productivity and efficiency [41][46] Question: Trends in the food service market? - Management noted that fast casual dining is under pressure, while quick service restaurants are performing better, with innovation expected to drive growth [50][51] Question: Impact of competitive price pressure on SBS and CUK? - Management stated that they have not lost market share and emphasized the cost advantages of coated recycled paperboard over bleached alternatives [60][61] Question: Clarification on Waco's start-up costs? - Management indicated that the start-up costs of $65 million-$75 million are primarily operating costs incurred during the ramp-up phase, with a portion expected to carry into 2026 [67][80]

Financial Data and Key Metrics Changes - SNDL reported net revenue of CAD 244 million for Q3 2025, reflecting a 3.1% increase year-over-year, driven primarily by the cannabis segments [7][10] - Gross profit reached CAD 64.2 million, a 1.9% increase year-over-year, despite CAD 3.9 million in non-cash inventory-related adjustments [8][9] - Free cash flow for the quarter was CAD 16.7 million, marking a CAD 7.5 million improvement compared to the same period last year, and achieving positive cumulative free cash flow of CAD 7.7 million for the first nine months of the year [10][13] Business Line Data and Key Metrics Changes - The liquor retail segment generated net revenue of CAD 139.4 million, a 3.6% year-over-year decline, while gross profit was CAD 36.7 million, a modest reduction of CAD 0.2 million [14][15] - Cannabis retail achieved net revenue of CAD 85 million, a record high with a 4.8% year-over-year growth, and gross profit of CAD 22.5 million, reflecting an 8.5% increase [16] - Cannabis operations reported net revenue of CAD 37.4 million, a 50% growth year-over-year, driven by edibles and international sales [17] Market Data and Key Metrics Changes - The cannabis retail segment saw a 3.6% increase in same-store sales, contributing to a 12 basis points gain in market share [19] - International sales reached CAD 4.2 million in Q3, with expectations for continued growth due to strong demand and reliability of supply [20][33] Company Strategy and Development Direction - SNDL is focused on growth, profitability, and enhancing its workforce, with plans to open five new cannabis stores and two new Wine & Beyond stores in Q4 [19][21] - The company aims to strengthen its competitive position in Canada while resolving ongoing litigation related to Sunstream restructurings, which are expected to provide exposure to dynamic medical markets [5][6] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the impact of CAD 11.9 million in unfavorable non-cash items on the P&L, but emphasized operational improvements and cash generation as key indicators of business fundamentals [4][3] - The outlook for cannabis retail is mixed, with signs of market maturity in provinces like Alberta and Ontario, but opportunities for margin improvement remain [36][39] Other Important Information - SNDL has no debt and over CAD 240 million in unrestricted cash, providing a strong balance sheet to support growth initiatives [5] - The company is experiencing a significant increase in share-based compensation due to a 121% rise in share price during Q3 [9][12] Q&A Session Summary Question: Clarification on cannabis operations write-offs - Management confirmed CAD 3.9 million inventory adjustment impacting gross profit and CAD 2.7 million fixed asset impairment affecting operating income but not gross margin [25][27] Question: Growth drivers for sales to provincial boards - Management noted softness in third-party retail sales but continued growth in their own segment, with expectations for regaining momentum through new products and innovation [29][30] Question: International sales outlook - Management expressed optimism about international sales growth, with strong demand and increasing purchase orders anticipated for Q4 and beyond [32][33] Question: Update on 1CMPharm transaction regulatory approval - Management stated that the review process is ongoing, with no additional information available at this time [35] Question: Market opportunities in cannabis retail - Management indicated a shift towards maturity in the market, with expectations for low single-digit revenue growth moving forward, while also noting improvements in gross margin [36][39] Question: RISE rewards program performance - Management reported strong engagement from loyalty members and plans to roll out a similar program for the liquor business [41]

Financial Performance - Crescent Energy's Q3'25 performance exceeded expectations, generating $487 million in Adjusted EBITDAX[14] - The company reported $204 million in Levered Free Cash Flow in Q3'25[14] - Crescent Energy paid a fixed quarterly dividend of $0.12 per share, resulting in a 6% fixed dividend yield[14] - The company paid down over $150 million in debt during Q3[13] Strategic Acquisitions and Divestitures - Crescent Energy announced the acquisition of Vital Energy for approximately $3.1 billion[13] - The company signed over $700 million in accretive divestitures during Q3'25[13] - Year-to-date, Crescent Energy has signed over $800 million in non-core divestitures[19] Operational Highlights - Q3'25 average production was 253 Mboe/d, with 41% oil and 58% liquids[14] - Eagle Ford well performance has increased by approximately 20% year-over-year[37] - Crescent Energy achieved approximately 15% DC&F savings year-to-date in both the Eagle Ford and Uinta basins[35, 42] Balance Sheet and Capital Management - Crescent Energy's net LTM leverage ratio is 14x[14] - The company has approximately $20 billion in liquidity[14] - The borrowing base was increased to $39 billion pro forma for the Vital Energy acquisition[13]

Financial Data and Key Metrics Changes - The company's revenue for Q3 2025 was $240 million, representing a sequential increase of $16 million and a year-over-year increase of 58% [5][12] - Adjusted EBITDA for Q3 was $44 million, a decrease of $3 million sequentially, with an adjusted EBITDA margin of 18%, down from 21% sequentially [12][13] - Free cash flow for Q3 was $37 million, a sequential decrease of $15 million, with a year-to-date free cash flow of $112 million, reflecting a conversion rate of approximately 83% from adjusted EBITDA [16][17] Business Line Data and Key Metrics Changes - North America land business grew approximately 10% sequentially, driven by market share gains in drilling enhancement and well construction portfolios, and the full quarter contribution from Citadel [6][14] - International and offshore revenue grew 4% sequentially, despite softness in key markets like Mexico and Saudi Arabia [7][15] - The subsea services-related revenue in the U.S. offshore market reached a record high in Q3, indicating strong operational execution [7] Market Data and Key Metrics Changes - The company experienced growth in the Latin American market, particularly in Argentina, where sales of dissolvable plug technology increased [9] - In the Middle East, the company participated in the longest well ever drilled, showcasing its technology capabilities [8] - The Asia-Pacific market showed momentum with significant orders for subsea equipment scheduled for delivery in 2026 and 2027 [9] Company Strategy and Development Direction - The company aims to achieve adjusted EBITDA margins of 25% in the long term, with ongoing integration efforts and operational improvements expected to drive margin expansion [11][19] - The successful integration of Citadel is a key strategic initiative, enhancing market share and operational reliability [11][68] - The partnership with OneSubsea is expected to open new market opportunities and enhance competitiveness in the subsea space [10][29] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging market environment but expressed confidence in the company's ability to execute its strategy and drive growth [4][21] - The exit from the Eldridge facility is anticipated to unlock significant margin improvements in 2026 [13][19] - Management expects adjusted EBITDA for Q4 to be between $42 million and $47 million, with revenues projected at $235 million to $245 million [19] Other Important Information - The company has a strong balance sheet with cash and equivalents totaling $163 million and no drawn amounts on its revolving credit facility [18] - Capital expenditures in Q3 were $12 million, representing approximately 5% of revenue, with expectations for CapEx to remain slightly above historical levels through the end of the year [17][18] Q&A Session Summary Question: Inquiry about downhole operational issues - Management confirmed robust improvements have been made to address previous operational issues, with plans to run jobs with the improved tool soon [24][25] Question: Details on the OneSubsea agreement - Management expressed excitement about the OneSubsea partnership, indicating that initial orders may come in late this year or early next year, with revenue recognition expected to begin in 2027 [27][29] Question: Impact of facility consolidations on margins - Management indicated that exiting the Eldridge facility will unlock significant savings and improve margins, with further consolidation efforts expected to enhance operational efficiency [34][35] Question: Market conditions in Saudi Arabia - Management noted positive signs for increased activity in Saudi Arabia, with expectations for a return to growth in the market [40][41] Question: Preference for M&A versus share buybacks - Management indicated a preference for pursuing accretive M&A opportunities while balancing shareholder returns, with a strong pipeline of potential acquisitions under review [41][42] Question: Timing for mid-20% margin target - Management expects to reach low-20s EBITDA margins by mid-next year, with potential for improvement depending on market conditions [45][48] Question: Update on integration with Citadel - Management reported successful integration with Citadel, highlighting the growth of niche technologies and cross-selling opportunities [66][68] Question: Impact of tariffs on business - Management discussed the challenges posed by tariffs but emphasized the company's flexible business model to manage costs effectively [70][72]